New York, Feb 25, 2026, 15:42 EST — Regular session
- Wells Fargo bumped its price target on CAT to $870, though the shares barely budged in late-afternoon trading.
- Caterpillar is ramping up its digital fleet offerings, rolling out more connected tools and updating its Cat Rentals platform.
- Attention turns to CONEXPO-CON/AGG coming up in Las Vegas in early March, with a management discussion set for March 5.
Caterpillar moved just 0.02% higher to $768.41 as of 3:21 p.m. EST Wednesday, barely budging after Wells Fargo lifted its price target on the stock to $870 while sticking with its “Overweight” rating—signaling the bank expects outperformance. That price target reflects Wells Fargo’s view on where Caterpillar could be trading a year from now. 1
Timing counts here: Caterpillar has become a hot ticket, linked to U.S. construction and the surge in power equipment for data centers. Shares have climbed roughly 33% this year. Any whiff of a shift in the cycle sends the stock skittering.
Caterpillar, headquartered in Irving, Texas, isn’t just pushing heavy equipment these days. It’s pitching software, connectivity, and services designed to last. That blend tends to hold up when demand booms—and can even look more appealing as orders start to cool.
Caterpillar plans to give its Cat Rentals brand a facelift and introduce new digital offerings at CONEXPO-CON/AGG next month—think a redesigned catrentals.com and expanded telematics features for fleet oversight. “It’s all about making the rental process easier and offering better visibility,” said Phil Kelliher, senior vice president of Cat Rental & Used. 2
Wells Fargo’s Jerry Revich flagged stronger U.S. private non-residential construction and described Power & Data Center work as “accelerating,” according to Barron’s. His $870 price target is a hair under Evercore ISI’s $878, with both shops keeping a buy rating on the stock. 3
Caterpillar this week announced plans to fold Geotab’s on-highway data into its VisionLink fleet platform—a move that would let customers track trucks alongside both Cat and non-Cat off-highway equipment in a single dashboard. “Our customers want one simple way to manage everything in their fleet,” said Ogi Redzic, Caterpillar’s chief digital officer. He noted that about 30% of customer assets operate on-highway. 4
Construction Industries Group President Rodney Michael Shurman exercised options and offloaded 2,278 Caterpillar shares on Feb. 23, fetching a weighted average of $759.61 each, according to a separate regulatory filing. Post-sale, Shurman remained directly in possession of 1,443 shares, the filing said. 5
Caterpillar Financial Services, the company’s lending unit, on Tuesday sold $350 million in floating-rate notes due 2029, along with another $950 million of 3.750% notes maturing the same year, according to an 8-K filing. Both sets of notes are listed on the New York Stock Exchange, the document showed. 6
Battery manufacturer ElevenEs got backing from Caterpillar Venture Capital in the initial closing of its Series B round, ahead of breaking ground on a 1 GWh lithium iron phosphate battery plant in Serbia this February. The company is targeting 2027 for its first battery cell deliveries. 7
Caterpillar shares finished Tuesday at $768.23, up 1.55%, according to MarketWatch data, after recovering from losses earlier in the session. That rally lands the stock close to the upper edge of its latest range as month-end approaches. 8
Still, Caterpillar is a cyclical stock. If non-residential construction slows, mining projects falter, or data-center investments hit the brakes, dealer orders could take a hit—raising the question: how much of the recent rally is grounded in real fundamentals, and how much is just momentum?
Traders are eyeing CONEXPO-CON/AGG, set for March 3-7 in Las Vegas. Deere and Komatsu—among Caterpillar’s main competitors—plan to roll out new products and tech there. According to the company’s events page, Caterpillar CEO Joe Creed and Group President Rod Shurman are lined up for a fireside chat on March 5. 9
